This week, the U.S. Securities and Exchange Commission (SEC) began the process of deciding whether to approve or reject six applications to list spot bitcoin exchange-traded funds (ETFs). These applications, including one from BlackRock, were published in the Federal Register, the daily gazette of the U.S. government. The SEC has 45 days to make a decision, but this can be extended to as long as 240 days.
The filing by BlackRock has sparked speculation that permission is more likely. Another bitcoin ETF application, the ARK 21Shares Bitcoin ETF, was published in the Federal Register on May 15, and the SEC extended the approval deadline in June. On Monday, the SEC accepted Valkyrie’s spot-bitcoin ETF application, according to a spokesperson from Valkyrie.
The clock starts ticking this week for the U.S. Securities and Exchange Commission’s (SEC) decision on whether to approve or reject six applications – including BlackRock’s – to list a spot bitcoin exchange-traded funds (ETFs), said the spokesperson.